Textainer Group Holdings Limited (NYSE:TGH) Plans $0.25 Quarterly Dividend

Textainer Group Holdings Limited (NYSE:TGH – Get Rating) declared a quarterly dividend on Thursday, May 5th, Zacks reports. Investors of record on Friday, June 3rd will be given a dividend of 0.25 per share by the transportation company on Wednesday, June 15th. This represents a $1.00 annualized dividend and a yield of 2.92%. The ex-dividend date of this dividend is Thursday, June 2nd.

Textainer Group has a payout ratio of 14.9% indicating that its dividend is sufficiently covered by earnings. Analysts expect Textainer Group to earn $6.39 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 15.6%.

Textainer Group stock opened at $34.28 on Friday. Textainer Group has a 12 month low of $24.30 and a 12 month high of $41.89. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 3.35. The business’s 50 day simple moving average is $36.28 and its 200 day simple moving average is $36.72. The company has a market cap of $1.70 billion, a price-to-earnings ratio of 6.41 and a beta of 1.23.

Textainer Group (NYSE:TGH – Get Rating) last posted its quarterly earnings data on Thursday, February 10th. The transportation company reported $1.46 EPS for the quarter, beating the consensus estimate of $1.26 by $0.20. Textainer Group had a return on equity of 20.65% and a net margin of 37.21%. The business had revenue of $198.22 million for the quarter, compared to the consensus estimate of $198.26 million. During the same quarter in the prior year, the business earned $0.81 earnings per share. As a group, equities research analysts forecast that Textainer Group will post 5.92 earnings per share for the current fiscal year.

Several hedge funds have recently modified their holdings of TGH. Millennium Management LLC raised its position in shares of Textainer Group by 94.6% in the fourth quarter. Millennium Management LLC now owns 263,823 shares of the transportation company’s stock worth $9,421,000 after buying an additional 128,281 shares in the last quarter. Morgan Stanley raised its position in shares of Textainer Group by 103.6% in the second quarter. Morgan Stanley now owns 220,939 shares of the transportation company’s stock worth $7,461,000 after buying an additional 112,442 shares in the last quarter. Credit Suisse AG purchased a new stake in shares of Textainer Group in the fourth quarter worth $1,363,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Textainer Group in the fourth quarter worth $911,000. Finally, Squarepoint Ops LLC purchased a new stake in shares of Textainer Group in the fourth quarter worth $824,000. Institutional investors own 60.10% of the company’s stock.

Several equities analysts recently commented on the company. StockNews.com downgraded Textainer Group from a “buy” rating to a “hold” rating in a research note on Wednesday. TheStreet downgraded Textainer Group from a “b” rating to a “c+” rating in a research report on Tuesday, April 5th. B. Riley increased their target price on Textainer Group from $50.00 to $55.00 in a research report on Friday, February 11th. Finally, Zacks Investment Research downgraded Textainer Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, April 14th.

About Textainer Group (Get Rating)

Textainer Group Holdings Limited, through its subsidiaries, purchases, owns, manages, leases, and disposes a fleet of intermodal containers worldwide. It operates through three segments: Container Ownership, Container Management, and Container Resale. The company's containers include standard and specialized dry freight, and refrigerated containers, as well as other special-purpose containers, which include tank, 45', pallet-wide, and other types of containers.

Recommended Stories